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4H 5EMA System

  • #681
  • Oct 29, 2008 6:05pm Oct 29, 2008 6:05pm
If you think about it we move or stop loss to 10 or 15 pips more that would mean that there was all most 400 pips more that we would of lost just this month. I do not think that it would be worth it if there was only three trades that it would have helped with. I guess if some one would back test it they could, but the way that i see it if you move your stop loss up you will lose 10 to 15 pips more on the trades that where losers.
  • #682
  • Oct 29, 2008 6:22pm Oct 29, 2008 6:22pm
Quoting Hiranya
If you think about it we move or stop loss to 10 or 15 pips more that would mean that there was all most 400 pips more that we would of lost just this month. I do not think that it would be worth it if there was only three trades that it would have helped with. I guess if some one would back test it they could, but the way that i see it if you move your stop loss up you will lose 10 to 15 pips more on the trades that where losers.
Im gonna have to side with Eric (Hiranya) on this one. If you do say 15 pips each way thats 30 pips more negative each trade. 30 trades a month times 30 pips on each trade is -900 pips! This system is just going threw a dry spell. Think about that! A dry spell and your up around +500 pips for the month!!! Ill take that dry spell any day!

By the way the short got stopped out and we are currently long with the stop at 1.6261

-Sterling
Founder of Day Trading Forex Live
  • #683
  • Oct 29, 2008 6:23pm Oct 29, 2008 6:23pm
Hiranya

Yes I do agree...without actual test data it is hard to speculate if it would be any benefit at all. Really...I guess it was more of a suggestion to promote conversation about the system and improving results.

Like Sterling says the system is solid...it is based on support and resistance and IMO that is why it works.

I guess I am coming to grips with the psychological issue I am having with watching my account go up and down and my week attempt to convince myself to do something about.

When really all I have to do is get used to the consistancy that this system is proving month after month.

Again I will go back to another statement that Sterling has made and that is the fact that the system has averaged atleast 700 pips per month...who cares how you get to that figure...just know that you will!!!

All we have to do as traders is follow the rules and the pips will come.

Sometimes that is easier said than done...
  • #684
  • Oct 29, 2008 6:32pm Oct 29, 2008 6:32pm
The only thing that ever one has to remember is that there is not one trader in this world that does not loss money. If you have a system that works you simply trade it. If there was a thing called no lossing trade system we all would have so much money that the feds would be asking us for a loan sents there is nothing like that i will simply be happy with making 500 plus pips a month
  • #685
  • Oct 29, 2008 8:05pm Oct 29, 2008 8:05pm
Quoting stersuhr
Trade #25 was stopped out for -117 pips and brought the current pips count for the month down to +669.

Trade #26 - We went short at 1.6274 and have a current stop of 1.6482

I havent had much time to work on backtesting the 8H candles. I do know that it is profitable but you might be able to get away with trading other more volitale pairs such as the G/Y if you use 8H candles. Its all something that is going to take time and effort. I will try to do as much as I can but I usually scalp the EUR session and with everything else my time is somewhat limited.

I do have a EA on the way. Someone PM'd me and said they were making one. He sounds like he really understands the system and knows whats hes doing with coding. He said it was done a few days ago, and he is de-bugging it now. Im not sure how many days that is going to take but as soon as hes done im sure he will let me know.

-Sterling
I'd love to know someday what method you use to scalp the G/J during the EUR session
  • #686
  • Oct 29, 2008 8:23pm Oct 29, 2008 8:23pm
It would be nice to have that scalping method of yours combinrd with this great 5EMA. that would make a complete set of tools. and I can stop imagining how robust that method would be.

it would be useful in flat times like this


can we know about it pleaaaaaaaaaaaaaaaaaaaase!!!!

kos
John 3:16 - From THIS love no power on earth can me sever.
  • #687
  • Edited 9:38pm Oct 29, 2008 8:50pm | Edited 9:38pm
Quoting earret
Hiranya

Yes I do agree...without actual test data it is hard to speculate if it would be any benefit at all. Really...I guess it was more of a suggestion to promote conversation about the system and improving results.

Like Sterling says the system is solid...it is based on support and resistance and IMO that is why it works.

I guess I am coming to grips with the psychological issue I am having with watching my account go up and down and my week attempt to convince myself to do something about.

When really all I have to do is get used to the consistancy that this system is proving month after month.

Again I will go back to another statement that Sterling has made and that is the fact that the system has averaged atleast 700 pips per month...who cares how you get to that figure...just know that you will!!!

All we have to do as traders is follow the rules and the pips wil
Earret,
I will tell you what I am doing because I believe in the system but I don't like the ups and downs either. I believe Ster when he tells us that the two timeframes will even out in the long run too. I trade both time frames. It's more work but I have really "smoothed the curve". The timeframes were 2 hours apart, now they are 1 hr apart. My understanding is that next week they will again be 2 hours apart. I split my contract size in half. I label in the comments "Sterling A" or " Sterling B". We hae seen each take it's turn at being superior. Today, Ster B did not get chopped and go short and is up over 900 pips! I also use the "stairstepping" method I posted about earlier to maximize profits.
Ster called this a dry spell. Wow! I can hardly wait till the oasis comes around again!
  • #688
  • Oct 29, 2008 10:17pm Oct 29, 2008 10:17pm
Quoting earret
Hiranya

Yes I do agree...without actual test data it is hard to speculate if it would be any benefit at all. Really...I guess it was more of a suggestion to promote conversation about the system and improving results.

Like Sterling says the system is solid...it is based on support and resistance and IMO that is why it works.

I guess I am coming to grips with the psychological issue I am having with watching my account go up and down and my week attempt to convince myself to do something about.

When really all I have to do is get used to the consistancy that this system is proving month after month.

Again I will go back to another statement that Sterling has made and that is the fact that the system has averaged atleast 700 pips per month...who cares how you get to that figure...just know that you will!!!

All we have to do as traders is follow the rules and the pips will come.

Sometimes that is easier said than done...

Your exactly right the mental aspect of trading is the hardest thing to master. I can guarantee there will be people that trade this system and loose money. Why? Because they will get emotional and not follow the rules. Stick with it and you will average +600 average a month!

-Sterling
Founder of Day Trading Forex Live
  • #689
  • Oct 29, 2008 10:22pm Oct 29, 2008 10:22pm
Quoting Kosomolate
It would be nice to have that scalping method of yours combinrd with this great 5EMA. that would make a complete set of tools. and I can stop imagining how robust that method would be.

it would be useful in flat times like this


can we know about it pleaaaaaaaaaaaaaaaaaaaase!!!!

kos
I thought I would give you guys a little inspiration so heres my live account that I scalp with. Enjoy, you guys can do it to!!! This was from sunday to current. No these are not all the trades just all I could fit in the screen shot. If you dont believe me ill send you my daily reports from Alpari.

-Sterling
Attached Image (click to enlarge)
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Founder of Day Trading Forex Live
  • #690
  • Oct 29, 2008 10:39pm Oct 29, 2008 10:39pm
Quoting stersuhr
I thought I would give you guys a little inspiration so heres my live account that I scalp with. Enjoy, you guys can do it to!!! This was from sunday to current. No these are not all the trades just all I could fit in the screen shot. If you dont believe me ill send you my daily reports from Alpari.

-Sterling
Sterling! You are really teasing us! When do we start, lol??
  • #691
  • Oct 29, 2008 11:01pm Oct 29, 2008 11:01pm
Quoting alllivemind
Sterling! You are really teasing us! When do we start, lol??
Teasing? HAHA! I call that inspiration! Hey guys I've given you guys a system that make atleast 500 pips a month minimum. What more do you want! lol.

-Sterling
Founder of Day Trading Forex Live
  • #692
  • Oct 29, 2008 11:54pm Oct 29, 2008 11:54pm
Quoting stersuhr
Teasing? HAHA! I call that inspiration! Hey guys I've given you guys a system that make atleast 500 pips a month minimum. What more do you want! lol.

-Sterling



Thanks!
When do we start?
  • #693
  • Edited 12:11am Oct 30, 2008 12:00am | Edited 12:11am
Quoting alllivemind


Thanks!
When do we start?
To be completly honest with you I scalp based on price action and my gut feeling. Its not something I can really teach...you know what I mean? I mean I can show you my trades from tonight but there all gut feeling...

-Sterling
Founder of Day Trading Forex Live
  • #694
  • Oct 30, 2008 12:22am Oct 30, 2008 12:22am
hey sterling,

you a full time trader? don't work a 9-5 job? how long did it take you to become a full time trader? how long have you been a full time trader? i have a goal to become a full time one day. cheers
  • #695
  • Oct 30, 2008 12:30am Oct 30, 2008 12:30am
Quoting kien27
hey sterling,

you a full time trader? don't work a 9-5 job? how long did it take you to become a full time trader? how long have you been a full time trader? i have a goal to become a full time one day. cheers
I have been for a little over a year. Im 21 now and have been trading for 5 years. I help a good friend once a week with his work but he dosent pay me. If you wants some tips on how to become one feel free to PM me and ill help you out.

-Sterling
Founder of Day Trading Forex Live
  • #696
  • Oct 30, 2008 12:37am Oct 30, 2008 12:37am
thanks heaps i definitively will , but i just setup PM, so gotta wait or do something cause ff doesn't let me PM atm , but definitively will send you a PM as soon as i'm up thanks heaps in advance. I admire your position so young and going places. You DA MAN!
  • #697
  • Oct 30, 2008 12:42am Oct 30, 2008 12:42am
Quoting kien27
thanks heaps i definitively will , but i just setup PM, so gotta wait or do something cause ff doesn't let me PM atm , but definitively will send you a PM as soon as i'm up thanks heaps in advance. I admire your position so young and going places. You DA MAN!
I've definatly paid my dues. Ill tell you about that to lol. You can email me at ([email protected]) if that works better for ya.

-Sterling
Founder of Day Trading Forex Live
  • #698
  • Oct 30, 2008 12:45am Oct 30, 2008 12:45am
Here is another teaser from me .
Over the night another 400 pips stacked to the long position and currently running over 1000 pips profit.
How about you guys?

Sterling can you tell me if i positioned the SL correctly? ( it's in the same place where the sellstop is placed).
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  • #699
  • Oct 30, 2008 12:48am Oct 30, 2008 12:48am
Here's my trades from tonight...atleast what will fit on the screen shot. Im telling you guys, stick with this system as a base and continue to grow on it and then get into scalping and learning other things. If I can do it so can everyone else, you just have to believe you can do it and work at it!

-Sterling
Attached Image (click to enlarge)
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Founder of Day Trading Forex Live
  • #700
  • Oct 30, 2008 12:52am Oct 30, 2008 12:52am
Quoting AlexL
Here is another teaser from me .
Over the night another 400 pips stacked to the long position and currently running over 1000 pips profit.
How about you guys?

Sterling can you tell me if i positioned the SL correctly? ( it's in the same place where the sellstop is placed).
Yup you got it right....5 pips below the low of the last CLOSED candle. Thats where the sell stop order is too. When you current bar closes you will move the stop and sell stop 5 pips below that bar. I really happy for ya man!!! Glad to see you got in on that huge trade. This just shows that a EA to run 2 closing times would be awesome! Keep it up man!

-Sterling
Founder of Day Trading Forex Live
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